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overall policy of how is the foreign affairs budget, the state department budget would be prioritize in the entire region as opposed to just focusing on one country since they seem to be working together ever before? >> well, thank you very much, congressman meeks. i am very, very hopeful. i am planning a trip shortly to both colombia and brazil and other countries hopefully as time permits. we've had some issues, obviously, with argentina over some debt issues, repayment, so forth, which we need to work through. but, look, western hemisphere is our back yard. it's critical to us. too often countries in the western hemisphere think that the united states doesn't pay enough attention to them and on occasion it's probably been true. i think we need to reach out vigorously. we plan to. the president will be traveling to mexico very shortly. other -- i can't many countries. he will be going. i will be going, other high-level visits. we'll try to do everything possible to try to change the attitude of a number of nations where we've had obviously sort of a breach in the relationship ove
think for the foreign exchange market, it's more a question of policy action. and now, because we're in this limbo, that leaves sterling a little bit of limbo. >> meanwhile, the treasury there is targeting sales of 4 to 5 billion sales in six-month and is 1-month t bills. yes, same with italian yields, as well, michael. are we now at the low point in the cycle for spanish and italian yields? who is going to drive them lower from here and why would you? >> i think the market has seen a lot of liquidity expansion. first from the fed and then lastly from the bank of japan. and combined with the renewed commitment from the ecb to protect the euro, this has depressed yields to these kind of levels. i think it's difficult to see us going dramatically further. and if anything, strategically, we think that the three major problems in europe, the recession, inconsistent crisis management and rising political and social backlash against austerity are likely to come through and that leaves spain and italy very vulnerable to a sharp increase in yields. we're looking, for example, for 10-year
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